SK Hynix and Micron Sink 6%, SanDisk Drops 9% as Korea Chip Selloff Hits U.S. Memory Stocks

SK Hynix (NASDAQ:SKHY) ADRs are down 6% successful Friday greeting trading to $158.56 arsenic a Korea-led representation selloff pulls the full spot analyzable lower. Micron Technology (NASDAQ:MU) banal is disconnected 6% to $929, SanDisk (NASDAQ:SNDK) shares are down 9% to $1,467, and Western Digital (NASDAQ:WDC) banal is trading 6% little astatine $523.48.

The Roundhill Memory ETF (CBOE:DRAM) is down 7% to $54, confirming a wide radical retreat alternatively than a single-name story. The NASDAQ 100 is down 1% and has present fallen for a 3rd consecutive league to a one-month low, truthful today's representation weakness is riding connected apical of a broader tech pullback.

The determination caps a volatile agelong for the memory/storage radical aft a immense tally higher, and the pullback inactive leaves the assemblage profoundly successful the greenish for the year.

Korea-Led Selloff Sparks Sympathy Move

The catalyst traces to an overnight KOSPI selloff successful South Korea led by Samsung and SK Hynix. U.S. representation names person go progressively bundled with the KOSPI fixed its dense weighting to those two, truthful weakness successful Seoul is flowing consecutive done to Micron, SanDisk, and Western Digital shares.

Layered connected apical is simply a broader tech pullback. The NASDAQ has fallen 3 sessions successful a enactment aft results from Alphabet's (NASDAQ:GOOGL) Google and Tesla (NASDAQ:TSLA), with U.S.-Iran escalation adding pressure.

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Notably, Micron is falling adjacent aft Tesla CEO Elon Musk praised the company's "very important allocation" of representation chips to Tesla connected Thursday's net call. That underscores today's enactment arsenic a radical and macro move, not a Micron-specific problem.

Pullback Inside a Massive Rally

Today's driblet lands wrong 1 of the sharpest assemblage runs successful years. Micron banal is up 227% twelvemonth to day (YTD), SanDisk shares person gained 526% YTD, and Western Digital banal is up 209% YTD, each fueled by AI representation request and blowout earnings.